 "Intraday support for Nifty seen at 9,700, says Prabhudas Lilladher")
Nifty outlook and few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
Nifty View:
Nifty started on a weak note much to our reading for a corrective move to start. A close below 9,800 opens the downside target of 9,700-9,650. The support for the day is seen at 9,700 while resistance is seen at 9,800.
BUY DHFL
CMP: Rs 448.75
Also Read
TARGET: Rs 480
STOP LOSS: Rs 430
The stock has made a steep correction from Rs 461 to bottom out at around Rs 391 and now has made a strong recovery with RSI bouncing back indicating a trend reversal signaling a buy in this stock. We recommend a buy in this stock for the upside target of Rs 480 keeping a stop loss of Rs 430.
BUY MAX INDIA
CMP: Rs 139.20
TARGET: Rs 150
STOP LOSS: Rs 134
The stock has made a good correction of almost 15% and has stabilized at around Rs 133 and has shown a recovery path to anticipate further rally also the RSI has shown a trend reversal signifying positive bias. We recommend a buy in this stock for the upside target of Rs 150 keeping a stop loss of Rs 134.
BUY TECH MAHINDRA
CMP: Rs 431.10
TARGET: Rs 465
STOP LOSS: Rs 415
The stock has been on a strong uptrend and it has already given a breakout above Rs 412 levels and we anticipate further rally upward to scale new targets. The RSI is on the rise, whereas the MACD also shows positive bias which all support for a potential upmove. We recommend a buy in this stock for the upside target of Rs 465 keeping a stop loss of Rs 415.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%